Question

How do you calculate cash sales in incomplete records?

Answer 1

Cash sales can be calculated from the incomplete records using the following formula

Net Sales = Cash Sales + Credit Sales – Sales return

Or

Cash sales = Net Sales – Credit Sales + Sales Return

Also read:

• Accounts From Incomplete Records
• Marshalling of Assets and Liabilities
• Accounting MCQs
• What Is the Balance Sheet Equation
• Balance Sheet Vs Consolidated Balance Sheet

Learn about more questions and answers on business studies and various other commerce topics from our website.